iShares California Muni Bond ETF (NYSEARCA:CMF) Sees Strong Trading Volume – Here’s Why

Shares of iShares California Muni Bond ETF (NYSEARCA:CMF) saw unusually-strong trading volume on Wednesday. Approximately 2,325,786 shares changed hands during trading, an increase of 294% from the previous session’s volume of 589,695 shares. The stock last traded at $54.6750 and had previously closed at $55.03.

iShares California Muni Bond ETF Price Performance

The company’s 50-day moving average price is $56.16 and its two-hundred day moving average price is $56.86.

Institutional Trading of iShares California Muni Bond ETF

Several institutional investors and hedge funds have recently bought and sold shares of CMF. Thryve Wealth Management LLC bought a new stake in iShares California Muni Bond ETF in the fourth quarter valued at $5,830,000. Integrity Investment Advisors LLC bought a new position in shares of iShares California Muni Bond ETF during the fourth quarter worth about $704,000. Fifth Third Bancorp acquired a new stake in shares of iShares California Muni Bond ETF in the 1st quarter worth about $3,980,000. SmartHarvest Portfolios LLC acquired a new stake in shares of iShares California Muni Bond ETF in the 4th quarter worth about $563,000. Finally, Maloon Powers Pitre Higgins & Dennehy LLC bought a new stake in iShares California Muni Bond ETF in the 2nd quarter valued at about $1,585,000.

About iShares California Muni Bond ETF

iShares California AMT-Free Muni Bond ETF (the Fund), formerly iShares S&P California AMT-Free Municipal Bond Fund, is an exchange-traded fund (ETF). The Fund seeks to track the investment results of the S&P California AMT-Free Municipal Bond Index (the Index), which measures the performance of the investment-grade segment of the California municipal bond market and the components primarily include transportation and utilities companies. The Index is a subset of the S&P National AMT-Free Municipal Bond Index and is consists of municipal bonds issued in the State of California.